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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1234 Bay Area Blvd Houston, TX 77058-2538

    • Office buildings
    • 15,391 SF
    • 1.01 lot acres
    OFF-MARKET
    Value Estimations
    $615,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2461206
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Theresa Kundrot / Physician
    • Hopping Eye Associates / Physician
    • Dr. Desiree T. Hopping / Physician
    • Carol Brondsema / Physician
    • Sheryl Berg / Physician

    Property Details for 1234 Bay Area Blvd

    Year built
    1979
    Construction
    BRICK
    Lot size
    1.01 lot acres
    Property size
    15,391 SF
    Property type
    Office buildings
    APN
    1004600000008
    APU
    1004600000008

    Description

    This 1,394 square foot medical office space is available for lease at 1234 Bay Area Blvd, Houston, Texas 77058. Located in Harris County, this multi-tenant office building was constructed in 1979. The property offers a versatile layout suitable for a variety of medical practices. Its prime location in Houston's Bay Area provides easy access for clients and employees. The surrounding area boasts numerous amenities, including diverse dining options and recreational areas such as the Armand Bayou Nature Center. The proximity to Clear Lake and the NASA Johnson Space Center adds to the area's appeal. Convenient access to major highways ensures a smooth commute. This thoughtfully designed space is perfect for businesses seeking a vibrant and productive work environment. The property is well-suited for a modern professional practice seeking a high-visibility location with excellent accessibility. This is an exceptional opportunity to establish or expand your medical practice in a thriving Houston community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $600,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.1163
    Latitude
    29.5585
    CBSA code
    26420
    CBSA name
    HOUSTON-SUGAR LAND-BAYTOWN, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $23,261
    $1,533,735
    $907,125
    $2,440,860
    -
    $1,533,735
    $907,125
    $2,440,860

    Comparable in this City

    • Value Estimation
      $1,830,000
      128,040 SF

      2525 Bay Area Blvd, Unit 325

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 128,040 SF
      2525 Bay Area Blvd, Houston, TX 77058-1558
      View Details
    • Value Estimation
      $1,440,000
      66,804 SF

      1290 Hercules Ave

      OFFICE BUILDING • 66,804 SF
      1290 Hercules Ave, Houston, TX 77058-2726
      View Details
    • Value Estimation by Request
      6,324 SF

      1325 Spc Park Dr

      OFFICE BUILDING • 6,324 SF
      1325 Spc Park Dr, Houston, TX 77058-3459
      View Details
    • Value Estimation
      $1,670,000
      119,980 SF

      2100 Spc Park Dr

      OFFICE BUILDING • 119,980 SF
      2100 Spc Park Dr, Houston, TX 77058-3693
      View Details
    • Value Estimation
      $1,255,000
      61,866 SF

      1331 Gemini St

      OFFICE BUILDING • 61,866 SF
      1331 Gemini St, Houston, TX 77058-2745
      View Details
    • Value Estimation
      $1,895,000
      48,588 SF

      15755 Middlebrook Dr

      OFFICE BUILDING • 48,588 SF
      15755 Middlebrook Dr, Houston, TX 77058
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      22,777 SF

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      Prime Houston Executive Office Building

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      Prime Houston location, 25,086 SF office space.
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    Similar Nearby for Lease

    • $3,160,000
      1,451 SF

      Clear Lake City Office Building

      Four-story office building in Clear Lake City, Texas.
      16902 El Camino Real, Houston, TX 77058
      View Details
    • $16 SF/Yr
      1,250 SF

      Office Building Near NASA

      Office suites available in close proximity to NASA.
      16815 Royal Crest Dr, Houston, TX 77058
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    • $28 SF/Yr
      5,536 SF

      Class A Office Space Available

      Premier Class A office building in Clear Lake marketplace.
      17225 El Camino Real, Webster, TX 77058
      View Details
    • Contact for pricing

      Houston Office Building with Fiber

      Office building with fiber connectivity, ideal for telecom or call centers.
      3700 Bay Area Blvd, Houston, TX 77058
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      40,214 SF

      Houston Medical Office Building

      Prime Medical Office Space Available in Houston, TX
      1045 Gemini St, Houston, TX 77058
      View Details
    • $19 SF/Yr
      79,629 SF

      NASA Parkway Office Space

      Houston Office Suites Available
      1120 Nasa Pkwy, Houston, TX 77058
      View Details
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    1234 Bay Area Blvd
    Houston, TX 77058-2538
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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